BB&T Capital Lowers FDP Q4'10 EPS; Raises FY'11 Estimate

BB&T Capital Markets has lowered its Q4'10 EPS estimate on shares of Fresh Del Monte Produce, Inc. FDP to a loss of $0.20 from a loss of $0.13, to account for a higher tax rate assumption. “We have also raised our FY'11 estimate to $2.10 from $2.00 to account for better than expected pricing—this estimate may be conservative, but we do not yet have confidence that $2.50 is achievable,” BB&T Capital writes. Fresh Del Monte Produce closed Tuesday at $23.84.